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To confirm this reversal candlestick pattern we have to wait for close this candle and look about next candle volume power. If it closed below the Weekly pivot point then next point is Weekly Support Level 1 and Fibonacci Level 61.8

Apparent neither side has enough power to draw the price their way but given a strong reason the bulls might pull the price up to challenge the recent spike high as seen from the violet lines. The other scenario would be that price will just go down to the support level below as marked by the black lines.

The movement in USDCAD is similar to AUDUSD where the market is hesitant to move strong.

So from here we can expect the market to go up to the resistance level above as marked by the violet lines or it can drop strongly to the support level below as described by the black lines.

Tradersdon't know the future that is why tradersneed market scenarios.

In what we have a similar forecast, I have everything determined by the level of 1,2580 and how for me now it is worth selling the pair with a profit to the support level at around 1.2435, because prices will obviously fall, because confidently closed below the resistance level at around 1.2670 and could not gain a foothold above 1.2580, which would again allow the pair to grow to the level of 1.2670, so for now, it's worth to sell and trade on the trend, which is still down on the daily chart.

Pair is in over bought area, we have to be very careful about making decisions because it wont go further more towards north, before going we will see some retracement. If we look at daily time frame we wont found any Sell signal yet. Will wait for few days for further conformations.

At the moment on the H4 chart, we can see how it is trading near the resistance level of 1.2584. Indicators now are already hinting at the possibility of buying a pair to the resistance level of 1.2613.

usdcad 4h 13.02.png
usdcad little closer to rsi 50 level and since price above 200 ma moving average i thinik this pair can find support from rsi 50 level and then rally up to 1.27 or 1.28 level. i want to buy it from rsi 50 level and hold until rsi reach 70 level and go above it and close when rsi cross below 70 level.

High Impact news may turn the situation any time most of the traders think that news will support the Dollar. if it really do then we see the pair move towards north with atleast 100 pips

Trade Recommendations : Buy

Yesterday price climb and touch the resistance level as per prediction but when news appear we see a sharp fall in the price. Today price will fall further more if it shows some retracement then it will sure come to the day open area.

usdcad 15.02.png
usdcad move strong yesterday and today move higher but market sell this pair like dollar everywhere. but i think if this pair is above 200 ma moving average it is smart to wait for price to touch 200 ma moving average and rsi 30 level and buy this pair.

Yesterday price climb and touch the resistance level as per prediction but when news appear we see a sharp fall in the price. Today price will fall further more if it shows some retracement then it will sure come to the day open area.

Trade Recommendations : Sell

Yesterday price move as per analysis, 1st it show some pull back and came back to day open area. Sellers are still strong and price may fall further more. This is due to weak USD.

usdcad 16.02.png
usdcad great setup from 200 ma moving average test pair rise up again. rsi now cross50 level and i think that is strong buying signal and i can purchase usdcad pair. move for rsi to 70 level and above this level will also help usdcad break above 1.26 level and attract more buyer for this pair.

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